PLATINUM RYE ENTERTAINMENT BLOG

August6th

Today marked a meaningful milestone for Facebook. Its first Chief Marketing Officer (CMO), Gary Briggs, was hired and began work as a part of the Facebook team. Recently, the social media giant recognized a need to fill the position because it has primarily marketed itself, from the day it was founded. It has relied on word-of-mouth marketing, business press, tech press and media attention, but strives to expand even further. It is seeking to magnify its global brand by creating a campaign to control the message of what Facebook truly is, as a company. In a sense, Facebook is “growing up.” It has invested in high-product advertisements since its initial public offering in May 2012. Its employees have done very well with advertising in the past and plan to continue learning to speak the same language as advertisers.

This CMO position is very highly coveted and Briggs is exactly what Facebook was looking for. He was the CEO of an online gift card startup called Plastic Jungle, held VP roles at EBay and PayPal, served as VP of consumer marketing for Google starting in 2010 and shifted to Motorola when it was acquired by Google, last year. Facebook was eager to have a Google executive brought onto its squad, because the rivalry between the two corporations is still intense. Briggs will report to Chris Cox, Facebook’s VP of Product, and will be responsible for building Facebook’s appeal and promoting new products. Facebook is the largest social media channel in the world and is growing at incredible rates. It has caused tremendous buzz in the stock market in the past few weeks, as its shares closed above $38 on August 2 and rose 2.7% to $39.07 today. It has an estimated market capitalization of $95 billion and is only expected to continue in its success. Briggs has a crucial job on his hands and couldn’t be more excited to have been selected as the CMO. He said, “Telling the story of such an important and still very young brand is an incredible opportunity, and I cannot wait to get started.” For more about this topic, watch this video!